Bau Duc Company cancels list of investors about to buy 130 million shares

One day after announcing that LPBank Securities and two investors bought shares, Hoang Anh Gia Lai canceled the information citing "incorrect reporting".

On the evening of November 24, one day after announcing unusual information about the list of investors expected to offer 130 million individual shares, Hoang Anh Gia Lai Joint Stock Company (HAG) said there were errors that needed to be corrected.

HAG's Board of Directors has requested to cancel the previous resolution and will adjust the information on the list of investors expected to be offered for sale. At the same time, the company will complete the registration dossier for the private offering of shares to submit to the State Securities Commission in November and December this year.

The list of investors announced earlier includes: LPBank Securities Joint Stock Company, Viet Cat Fund Management Joint Stock Company (Viet Cat Fund) and professional investor Nguyen Duc Tung Quan.

Mr. Doan Nguyen Duc - Chairman of the Board of Directors of Hoang Anh Gia Lai. Photo: Duc Dong

On the evening of November 23, Hoang Anh Gia Lai announced its plan to offer 130 million shares at VND10,000 per share. In the private offering plan, LPBank Securities Company plans to buy 50 million shares, equivalent to 4.73%; Viet Cat Fund buys 60 million shares, equivalent to 5.67%; Mr. Nguyen Duc Tung Quan buys 20 million, equivalent to 1.89%.

Immediately after the announcement, HAG shares increased for 3 consecutive sessions to 10,400 VND per share. This is the first time HAG shares have exceeded the 10,000 VND mark in over a year. Compared to the end of September, HAG shares have increased by 40%.

Last September, HAG sold nearly 162 million shares at VND10,500, expecting to earn VND1,700 billion. However, due to unfavorable market developments, investors refused to buy, and the plan failed.

Thi Ha

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